36-Unit Carondelet Turn-Key Package

  • $3,500,000
7024 Pennsylvania Ave, St. Louis, MO 63111, USA
For Sale
7024 Pennsylvania Ave, St. Louis, MO 63111, USA
  • $3,500,000

Description

Note – Besides being available together as a 9-building package the following a la carte properties/ smaller packages are available: 225-29 Steins, 7024-28 Pennsylvania, 7501 Michigan, 69Xx Michigan Package (6919-21 and 6927 Michigan), 74Xx S Broadway Package (7401, 7411, and 7413-7415 Broadway) and 7613 S. Broadway

Up for sale is the investment opportunity you’ve been seeking: turn-key (truly), attractive ROI, and good property management. There are 9 buildings in this 36-unit package deal which is a mix of multi-family properties, some of which are mixed-use. All are located within a ¼ mile radius of one another in the Carondelet neighborhood and all underwent major renovations about 12 years ago (roof, plumbing, electrical, kitchens, baths, etc.). Due to their condition, amenities, and layouts, these properties easily stay rented.

With current income and expenses, this portfolio offers a nice return on investment. The good news is that current rents are averaging around 5% below market rate creating an opportunity for additional income generation (and this is being conservative so perhaps there is more wiggle room if you want to test the waters). Investment opportunities like this seem to be rare in the current market. If you’ve been looking… this is the one! Don’t miss it

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Details

Updated on October 7, 2022 at 3:04 pm
  • Price: $3,500,000
  • Property Size: 44297 Sqft
  • Bedrooms: Varied
  • Bathrooms: Varied
  • Year Built: 1870-1923
  • Property Type: Multi-Family 5+
  • Property Status: For Sale
  • Units: 36
  • Address Carondelet 36 Package
  • City St. Louis
  • State/county St. Louis City
  • Zip/Postal Code 63111
  • Area Carondelet

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Riahna Kastner

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Riahna Kastner
  • Riahna Kastner